Adewale Adeleke, popularly known as Chairman HKN, has said his brother Davido is not running Davido Music Worldwide (DMW) as a record label, but rather as a charity organization.
Chairman HKN said this during a live Instagram interview with Ubi Franklin, the founder of Made Men Music record label, which was monitored by THE WHISTLER.
The duo was having a discussion on the recent saga between record label owner and artist manager, Jude Okoye, and his former artist, Cynthia Morgan, who now prefers to be called Madrina.
Franklin had invited record label CEOs on the live interview to air their views on the situation in the Nigerian music industry where artists and record labels often end up in the courts or quarrel after signing contracts to do business together.
He asked Chairman HKN to clarify reports that Davido does not sign contracts with his artists and that the DMW boss also does not take money from those signed to his label.
Chairman HKN said, “Davido runs DMW like a charity organization. He doesn’t take money from his artists,” adding that, “David runs DMW like an NGO.”
He noted that his brother was only helping artists signed to DMW, and was not really after profit.
Adewale said he was also running HKN Music which he co-owned with Davido with the same model, but that he had to restructure because he could not afford to be throwing money around the way his brother does with DMW.
Earlier on the interview, Jude, who is the elder brother of the defunct singing duo PSquare and who has been at the receiving end of criticisms in the Cynthia Morgan saga, had said until labels use some artists as scapegoats, they wont stop defying the terms of their contracts after becoming successful.
Jude also vowed never to sign any artist again without taking a collateral from their families to secure his investment.